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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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! M& u3 f% o/ U% T+ ~( hWE ARE PETRO-CANADIANS 4 u( M9 v/ F+ z! i2 e
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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We must now be referred to as "Petro-Canadians." * }4 v( ~2 a- r- z% O
/ k( ^0 g6 y7 wWHY SELL NOW? * \, A3 Z$ j1 R
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If I didn't own a house in Edmonton, I'd buy right now, with the current 10% dip in prices that have doubled in the past three years.
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If I was thinking of selling, I'd hold off until 2008 or 2010. * S6 {% d5 _% z+ b2 Z/ H
5 q0 C; ~* x; s6 z# m, x: s, YHouse prices, with a few peaks and valleys along the way, will continue to increase. # C5 Y+ h. ^$ R; r. f) [0 E
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We don't quite get it. + t3 _- L/ v: c2 O
/ ~2 _) A6 r# G- Z& _& oWe're squat in the middle of the greatest industrial boom in the freakin' world! ' V5 J! V0 t0 _8 n/ e9 G e; A
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In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. $ z+ v( z* ]+ U. _& n
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. . A+ A( ?6 A2 X( R7 y5 }
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. 1 T) v! ^3 w! G, ~9 A" H! l' f' u
! p; e0 z+ `2 `$ G) Z! c* ?Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. & V5 u& m; M t: k) t
: q' n: \& w( gStricter environmental safeguards will increase the cost of production, but won't severely slow it down. ' u. s3 ^# J5 i6 g5 a
( y% }' ~- J% n4 N0 A9 d2 sAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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House prices will go nowhere but up. |
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